Negative Sentiment Persists as NGX-ASI dip 21.16 points


On Wednesday, the Nigeria equities market sustained the bearish sentiment to three successive trading sessions as the market performance indicators (NGX-ASI and Market Capitalization) declined by 0.05%.

The decline was impacted by price depreciation in Banking and Consumer Goods.

As a result, the All-Share Index dipped 21.16 bps, representing a 0.05 percent decrease to close at 38,852.69.

While the Market Capitalization lost ₦11.02bn, representing a decline of 0.05 percent to close at ₦20.24 trillion

→ Correspondingly, the market activities traded bearishly, as both the total volume and value traded shed 15.54 percent and 35.55 percent, respectively.

A total of 155.77 million units of shares valued at ₦1.51 billion were traded in 3,256 deals.

UNIVINSURE outdid the traded stocks in terms of volume, accounting for 12.22 percent of the total volume of trades, followed by UBA (12.06%), ZENITHBANK (7.55%), GTCO (6.43%), and UCAP (5.47%) to complete the top five on the volume chart.

While, GTCO remained the most traded stock in value terms, with 17.96 percent of the total value of trades on the exchange.

→ TRANSCOHOT led the advancers table with price appreciation of 10.00 percent, followed closely by PHARMDEKO (9.88%), WEMABANK (1.32%), AIICO (1.03%), ETI (0.95%), FIDELITYBK (0.42%), WAPCO (0.22%), and 6 others.

In contrast, VERITASKAP topped the decliners chart as its share price dipped by 8.70 percent to close at ₦0.21, as UCAP (-5.00%), ACCESS (-3.37%), VITAFOAM (-1.96%), UBN (-1.00%), UBA (-0.65%), ZENITHBANK (-0.22%) and GTCO (-0.18%) amongst others also declined in price.

In conclusion, the market breadth closed negatively, recording 13 gainers and 17 losers.